Geode Capital Management LLC Has $280.03 Million Stock Holdings in Fox Co. (NASDAQ:FOXA)

Geode Capital Management LLC decreased its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,630,666 shares of the company’s stock after selling 355,668 shares during the period. Geode Capital Management LLC’s holdings in FOX were worth $280,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX during the second quarter worth approximately $52,000. Quarry LP bought a new stake in FOX in the third quarter valued at approximately $70,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of FOX in the third quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of FOX during the 3rd quarter worth approximately $141,000. Institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FOXA shares. Guggenheim raised their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of FOX from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group upped their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Down 0.5 %

FOXA stock opened at $47.08 on Friday. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.67. The business has a 50-day simple moving average of $44.42 and a 200 day simple moving average of $40.09. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $21.50 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts anticipate that Fox Co. will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last three months. Insiders own 21.77% of the company’s stock.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.